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Robinhood Markets, Inc.
NASDAQ: HOOD Financials Cap Markets 🔎 Screen
S&P 500
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$100.8B
Market Cap
54.0
P/E
2.13
PEG
10.0%
ROCE
22.0%
ROE
1.36
D/E
46.8%
OPM
-26.2%
% from 52W High
75
α RS
🔍 HOOD is showing a high-conviction setup because it matches 8 of 39 tracked screener presets, RS Rating is 75, and an ECS of 79.4 last quarter. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating ECS
Sources
Conviction 8/39 · RS Rating 75 · ECS 79.4
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🌏 Global Investor Returns
Currency-adjusted total returns for HOOD including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Robinhood Markets, Inc. operates financial services platform in the United States. The company’s platform allows users to invest in stocks, exchange-traded funds (ETFs), and American depository receipts. It offers fractional trading, recurring investments, access to investing on margin, fully-paid securities lending, cash sweep, instant withdrawals, retirement program, around-the-clock trading, joint investing accounts, event contracts, future contract services, and short selling. The company also provides various learning and education solutions comprise Snacks, an accessible digest of business news stories for a new generation of investors; Learn, which is an online collection of guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free, premium news from sites from various sites, such as Barron’s, Reuters, and Dow Jones. In addition, the company offers In-App Education, a resource that covers investing fundamentals, including why people invest, a stock market overview, and tips on how to define investing goals, as well as allows customers to understand the basics of investing before their first trade; and Crypto Learn and Earn, an educational module available to various crypto customers through Robinhood Learn to teach customers the basics related to cryptocurrency. Further, it provides Robinhood credit cards, cash card and spending accounts, and wallets. Robinhood Markets, Inc. was incorporated in 2013 and is headquartered in Menlo Park, California.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding HOOD
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Manager Shares Value % of Fund Period
Cathie Wood ARK Investment Management 6.00M $416.0M 3.24% Mar 2026
Jim Simons Renaissance Technologies LLC 5.10M $353.7M 0.55% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$1.31B
+32% YoY
Adjusted EBITDA
$741M
+35% YoY
Net Income
$573M
+48% YoY
Diluted EPS
$0.62
+48% YoY
What Went Right
  • Record revenue of $1.31B (+32% YoY) and record net deposits of $22B (28% annualized growth), with nearly 1M funded customers added
  • Record 4.8M Gold subscribers (+39% YoY, 17% attach rate); Gold Card crossed 1M cardholders with $17B+ annualized purchase volume
  • Trump Accounts hit 7M sign-ups and ~$1.5B deposited within weeks of July 4 launch; Robinhood Chain reached $12B+ DEX volume and fastest chain to 100M transactions
  • Added two new $100M+ ARR businesses (Robinhood Legend and Credit Card), bringing total to 13
What to Watch
  • Crypto revenue fell 38% YoY to $100M, and July crypto ADV is tracking slower than Q2
  • July net deposits tracking toward ~$4B, below the record Q2 pace (though YTD remains above 20% annualized)
  • June 2026 reduction in force drove one-time restructuring charges; regulatory outcomes (CLARITY Act, CFTC perps approval) remain pending
Management Guidance
  • FY2026 adjusted OpEx and SBC guidance lowered and tightened to $2.675B-$2.775B
  • July: equities, options and event-contract ADVs tracking near record Q2 levels; net deposits around $4B
  • Robinhood Social expected to roll out to all customers by end of Q3
Investor Lens
The thesis is stronger after this call. Record net deposits of $22B (28% annualized), a million new funded customers, and the Trump Accounts traction (7M sign-ups, ~$1.5B deposited) show the multi-product flywheel is accelerating. Revenue up 32% with 57% adjusted EBITDA margins keeps Robinhood well above Rule of 40, while the two new $100M ARR businesses improve diversification. Crypto revenue weakness (-38% YoY) and a softer July net-deposit pace are worth monitoring, but the lowered expense guidance demonstrates operating discipline and self-funding of new ventures.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Record Q2: revenue $1.31B (+32%), net deposits $22B, Gold subs 4.8M
Revenue
Total net revenues rose 32% YoY to a record $1.31B. Transaction-based revenue grew 44% to $776M, led by event contracts up over 10x to $156M, options up 29% to $342M, and equities up 95% to $129M, while crypto declined 38% to $100M. Net interest revenue was $389M (+9%) and other revenue grew 54% to $143M on Trump Account service fees and Gold subscriptions.
Profitability
Net income rose 48% YoY to $573M, with diluted EPS of $0.62 (+48%). Results included $129M of gains from the deconsolidation of Robinhood Ventures Fund I ($0.14 per share).
Margins
Adjusted EBITDA grew 35% to $741M, a 57% margin. Total operating expenses were $734M (+33% YoY), including one-time restructuring charges from the June 2026 reduction in force; adjusted OpEx and SBC was $641M (+23% YoY), coming in below the prior outlook range.
Balance Sheet
Cash and equivalents totaled $5.4B, boosted by a $2.2B convertible notes offering in June at 0% coupon with no net dilution until the share price exceeds $300. Year-to-date, Robinhood repurchased 7.5M shares for $664M.
Key Risks
Management flagged crypto revenue weakness (-38% YoY) and slower July crypto ADV. July net deposits are tracking to ~$4B, below the record Q2 pace. Regulatory dependencies remain, including the CLARITY Act in the Senate and CFTC approval for U.S. perps.
Outlook
FY2026 adjusted OpEx and SBC guidance was lowered to $2.675B-$2.775B, self-funding new costs from Rothera and WonderFi. July ADVs for equities, options and event contracts are near record Q2 levels, with net deposits around $4B excluding Trump Accounts.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-29
Record Q2 results with $1.3B revenue (up 32% YoY), $22B net deposits, and strong profitability. Product innovation and international expansion fueled growth, while expense discipline led to improved margins and a tightened 2026 outlook.
Q1 2026 Q1 2026 2026-04-28
Q1 2026 saw 15% revenue growth to $1.07B, $18B in net deposits, and record Gold subscriber growth. Product innovation, AI adoption, and international expansion drove engagement, while Trump Accounts and new regulatory changes signal further growth opportunities.
Q4 2025 Q4 2025 2026-02-10
Record 2025 results included 52% revenue growth, 70% asset increase, and strong profitability, driven by product innovation and diversification. 2026 guidance targets continued double-digit growth, disciplined expense management, and expansion in AI, tokenization, and international markets.
Q3 2025 Q3 2025 2025-11-05
Q3 2025 saw record revenue, net deposits, and product innovation, with strong growth in trading volumes, Prediction Markets, and international expansion. Leadership transition to a new CFO was announced, and the company remains focused on profitable growth and new product rollouts.
Q2 2025 Q2 2025 2025-07-30
Q2 2025 saw revenues up 45% year-over-year to $989 million, record trading volumes, and assets under custody doubling to over $250 billion. Gold subscribers hit 3.5 million, and international growth accelerated with Bitstamp. Expense discipline drove 56% Adjusted EBITDA margins.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
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Information Sources:
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